The FTSE 100 experienced a decline on Thursday after reaching a record high in the previous session. The decrease was largely influenced by the Bank of England’s rate decision, which leaned dovishly, alongside underperformance in the banking and mining sectors. Weakness in oil prices and disappointing revenue growth for Vodafone also contributed to the overall downward pressure.
- The FTSE 100 fell after hitting a record high.
- The Bank of England’s decision to hold Bank Rate at 3.75% with a narrow 5-4 vote pressured the index.
- Banks underperformed, with Lloyds, NatWest, HSBC, and Barclays all experiencing declines.
- Miners retreated as gold, silver, and copper prices slipped; Fresnillo, Endeavour, Antofagasta, Anglo American, Glencore, and Rio Tinto all decreased.
- Oil majors Shell and BP fell as crude prices weakened; Shell’s quarterly profit was slightly below expectations despite a share buyback.
- Vodafone led overall losses due to slower-than-expected service revenue growth.
- Anglo American reduced its 2026 copper output forecast.
The index experienced a setback driven by multiple factors across diverse sectors. Financial institutions faced downward pressure following central bank signals. Commodity-related companies were impacted by price declines in precious and industrial metals. Furthermore, the energy sector was influenced by fluctuations in crude oil values and performance reports. Telecommunications also weighed negatively due to revenue concerns, collectively leading to a day of declines in the market.